Fiat Chrysler reduced quarterly profit by 47%


Fiat Chrysler Automobile reported weak financial results for the first quarter, but confidently confirmed its forecasts for the current year. The quarterly report of the Italian-American company showed a decrease in net profit by 47% from the same quarter last year to 508 million euros. The figure was lower than economists' forecasts of 713.6 million euros. Revenue in the amount of 24.48 billion euros also did not reach the analysts' forecast of 25.31 billion euros. Over the year, the figure fell by 5%. The adjusted profit was 1.07 billion euros, a 29% decrease in annual terms. The company's sales fell by 14% to 1,037 million vehicles, mainly due to the discontinuation of the old Jeep Wrangler models. The fall in North America was 14%, in the Asia-Pacific region - 30%. In the region of Europe, Middle East, Africa, sales decreased by 12%, in Latin America the decline was at 9%.

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